Press Release Details
Colfax Wins $800,000 Contract to Supply Pumps to Northrop Grumman for CVN-78 Nuclear Aircraft Carrier
Colfax Wins $800,000 Contract to Supply Pumps to Northrop Grumman for CVN-78 Nuclear Aircraft Carrier
October 9, 2008
RICHMOND, VA – Oct. 9, 2008 –Colfax Corporation (NYSE: CFX), a global leader in fluid-handling solutions, announced today its Engineered Solutions business has shipped the first five untimed screw pumps as part of a total $800,000 pump contract for the newly designed CVN-78 nuclear aircraft carrier. The carrier is part of the new CVN-21 class, which will replace the Nimitz class, in use since the mid-1970s.
Designed, developed and qualified to meet both the new carrier requirements and U.S. Navy guidelines, these Colfax untimed screw pumps provide smooth fluid flow at various operational temperatures, ensuring a long operational service between maintenance periods.
Because of defense security regulations, further details about the pumps and the vessel on which they will be installed cannot be disclosed at this time.
“Colfax has been serving the U.S. Navy’s evolving fluid-handling needs for over 100 years with deep application expertise and our portfolio of Imo® Portland Valve, Warren®, and most recently, Fairmount Automation products,” said Mario DiDomenico, senior vice president and general manager of Colfax Engineered Solutions. “Our team in Monroe, North Carolina worked closely with Northrop Grumman Newport News to meet both the specifications and delivery requirements for this new carrier. And we’re looking forward to this same success on additional pump development programs underway at other divisions to address the new and challenging requirements of the CVN-21 class,” he added.
ABOUT COLFAX CORPORATION – Colfax Corporation is a global leader in critical fluid-handling solutions, including the manufacture of positive displacement industrial pumps and valves used in global oil & gas, power generation, marine, naval and a variety of other industrial applications. Key product brands include, Allweiler, Fairmount Automation, Houttuin, Imo, LSC, Portland Valve, Tushaco, Warren and Zenith. Colfax is traded on the NYSE under the ticker “CFX.” Additional information about Colfax’s products, businesses and practices is available at www.colfaxcorp.com.
ABOUT COLFAX ENGINEERED SOLUTIONS FOR DEFENSE – Colfax Engineered Solutions for Defense has a strong reputation and increasingly sophisticated capabilities to serve the global defense market. The business serves the U.S. Navy and navies of the world with critical application expertise and a portfolio of products from Fairmount Automation, which delivers innovative control solutions for a wide variety of mission-critical and safety-critical processes and machinery to the defense market; Imo Pump, which offers a wide range of untimed screw pumps handling fuel, lube and hydraulic oil in a broad range of applications; Portland Valve, which manufactures ball, butterfly, gate and regulating valves; and Warren Pumps, which specializes in custom-engineered timed screw and centrifugal naval/marine pump technology.
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CAUTIONARY NOTE CONCERNING FORWARD LOOKING STATEMENTS:
This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning Colfax’s plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on Colfax’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause Colfax’s results to differ materially from current expectations include, but are not limited to factors detailed in Colfax’s Registration Statement on Form S-1 under the caption "Risk Factors" and other reports filed with the U.S. Securities and Exchange Commission. In addition, these statements are based on a number of assumptions that are subject to change. This press release speaks only as of this date. Colfax disclaims any duty to update the information herein.
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